Banks that foreclose very seldom will finance the purchase for the new buyer- the property is on their books as a loss, and its "poison"- they need to get it off the books!
When I worked for Farm Credit, I got a couple of great loans after their present lender sent them my way- the loan got in trouble, but something happened in the meantime to greatly improve it (new management, change in operation, etc.), and former lender was excited about its prospects, but his regulators basically insisted he get it off the books. One turned out (after son took over management and banned scammer Dad from the property) to be the most profitable dairy I ever handled, bar none.
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Today's Featured Article - Recollections of a John Deere GP - by Charlie Cook. I grew up on my dad's 280 acre general farm in Western Michigan. Dad's only tractor when I was very young was the old GP. My first recollection of this tractor was when dad allowed my brother and myself to ride on the tractor with him driving. One of us would sit on the left fender (away from the clutch) and other would sit on the gas tank and hold onto the crankcase breather pipe.
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1965 International Harvester McCormick Farmall cub tractor 2,500. Two owner tractor. My grandfather bought new in 1966, then we inherited it. Have all the paperwork original manual and all maintenance records. It starts and moves. Comes with underbelly mower, plough, and some other attachments.
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